Trial run begins for Shahdara-Dilshad Garden sec of Metro Ph II ..........

REL FY’08 net up 41 pc at Rs 1,178 cr, declares 63 pc dividend ..........

Suggestions sought to strengthen safety norms in industries.........

Nucleus Software to invest Rs 30 crore in Jaipur ...........

Low density polymer up on better demand

NEW DELHI, Apr 28: Low density polymer prices today rose by a rupee here on the back of increased demand from plastic bag makers.

Low density (LD) polymer No 40 and LD NO 400 polymer prices rose by a rupee each at Rs 95 and Rs 94 a kg respectively on increased demand from plastic bag makers.

Traders said reduced offtake by stockists owing to negligible demand from plastic moulding units mainly kept polymer prices unchanged.

Following were today's quotations in Rs per kg:

LD No 40 - 95.00, LD No 400 - 94.00 LLDP blowing 85.00, colour 75.00 HD Blowing 82.00, HD moulding (deshi) 81.00, HD moulding (colour) 85.00, PP No 100 81.00, PP Colour 105, ABS (Indian) 97, acrylic 130-140, colour 139-144, crystal (Indian) 80, colour 90, poly carbonate 180-190, Nylon No-6 160, Nylon No 66 -181-191, PVC resin deshi 56.00, PVC pest grade 85. (PTI)

Most states yet to formulate plan for rural electrification

NEW DELHI, Apr 28: Majority of the states have not yet formulated the plan for implementation of the Centre’s ambitious rural electrification programme, Government said today.

Replying to questions in Rajya Sabha, Minister for Power Sushilkumar Shinde said the Centre has been impressing upon the states the need for according priority to implementation of the Rajiv Gandhi Gramin Vidhytikaran Yojana (RGGVY).

He said 12 states-Chattisgarh, Gujarat, Maharashtra, Himachal Pradesh, Madhya Pradesh, Mizoram, Nagaland, Orissa, Punjab, Tamil Nadu, Uttar Pradesh and West Bengal-have so far formulated the plan for implementing the programme.

"Some states are taking more than the committed schedule for implementing RGGVY works," he said.

States have been asked to submit rural electrification plans incorporating required strengthening of the sub-transmission systems and ensuring at least 6-8 hours of power supply to electrified villages.

He said the Centre is also planning to request state governments to set up a committee headed by Chief Secretary and comprising the secretaries of Power, Rural Development, Home, Revenue, Forests and Environment to resolve inter-departmental issues.

"This committee will also ensure that there is no delay in issuance of safety clearance prior to taking over of completed RGGVY assets by state utilities," he told the House.

The Centre has been asking states to "take suitable action for expeditious implementation of rural electrification works under RGGVY projects within stipulated timelines," he said. To another question, Shinde said power losses during transmission and because of theft have come down to 32 per cent from 46 per cent two-three years ago. (PTI)

Omani PE firm to invest in small and mid-size Indian cos

DUBAI, Apr 28: An Oman-based private equity firm has set up an India-focussed fund that will invest in rapidly expanding small and mid-size Indian enterprises.

The India 2020 Opportunity Fund, which was announced at the second edition of the India-Oman Business Forum held recently, will primarily invest in industries benefiting from the robust domestic Indian economy and growing consumer class.

The fund, whose size was not disclosed, targets to deliver shareholders an annual internal rate of return in excess of 30 per cent.

Salah S Al-Ghazali, director for investment promotion, Omani Centre for Investment Promotion and Export Development (Ociped) spoke about the investment opportunities in the Sultanate, the Times of Oman said.

Salah gave a broad overview of the Omani economy, the investment environment, foreign direct investments, Oman-India bilateral relations and the investment opportunities.

While welcoming the businessmen, Anil Wadhwa, Indian Ambassador, said that the bilateral trade relations between Oman and India are growing impressively. India-Oman trade grew by 43 per cent to reach an estimated USD 1.3 billion at the end of 2007.

The forum organised by the Indian embassy also discussed other business opportunities that exist between the two nations. (PTI)

Trial run begins for Shahdara-Dilshad
Garden sec of Metro Ph II

NEW DELHI, Apr 28: Stage is set for operationalisation of the crucial Phase II of the Delhi Metro in the next few months with the commencement of trial runs for the Shahdara-Dishad Garden section of the Phase II.

Trial runs on the 3 km Shahdara-Dilshad Garden stretch, the first section of Phase _ II, began yesterday.

Three trial runs were conducted successfully on the section between 1000 hours and 1300 hours.

DMRC spokesperson Anuj Dyal said the trial runs would continue for at least 3 to 4 weeks and the section is expected to be opened by the end of May or the beginning of June subject to how the trial runs go on.

If the section commences operations in May-June, it will be six to seven months ahead of its scheduled launch in December 2008.

Present to witness the trial runs on the first day were Director (Electrical) Satish Kumar, Director (Rolling Stock) H S Anand, Director (Projects) Vijay Anand and Chief Rolling Stock Expert of the General Consultants John Triplett.

During the trial runs, the interaction of the Metro train with Physical infringement (civil structure) was checked to ensure that there was no physical blockage during the movement of the train on the track between Shahdara and Dilshad Garden.

During the opening day of the trial run, the train was run at a slow speed of 10 to 20 km/hr (kmph). The speed will gradually be increased to 50 kmph, and ultimately a maximum of 80 kmph will be generated during the trial runs.

The entire signaling system which is based upon Automatic Train Protection (ATP) is also being tested during the trials. The signaling system has been provided by M/s Alstom of France.

Also monitored during the trials will be the response of the train at different speeds, braking of the train and the interconnection with Operations Control Centre (OCC).

The behaviour of the track system (Contractor Kalindi Rail Nirman Engineers) and the Over Head Electrification (Contractor M/s ABB) will also be checked repeatedly during the trials.

During each 24 hour cycle in the 3 weeks of trial running, trains

Will run for about 8 hours intensively everyday, and the remaining time will be used for completion and rectification of various works.

It is expected that more than 150 trips (runs) of the train will be done during the trials.(UNI)

REL FY’08 net up 41 pc at Rs 1,178 cr,
declares 63 pc dividend

MUMBAI, Apr 28: Anil Ambani group firm Reliance Energy today announced a consolidated net profit of Rs 1,178.21 crore for the year ended March 31, 2008, a 41.19 per cent growth over the corresponding period a year ago.

The group had a net profit of Rs 834.48 crore for the financial year 2006-07, Reliance Energy said in a filing to the Bombay Stock Exchange.

The consolidated total income of the group rose to Rs 9,760.01 crore in the year ended March 31, from Rs 7,774.53 crore in the previous fiscal.

Reliance Energy has announced a standalone net profit of Rs 1,084.63 crore for the fiscal ended March 31, 2008, a 35.33 per cent growth compared to last year.

The firm had a stand-alone net profit of Rs 801.45 crore for the year ended March 31, 2007.

The stand-alone total income of the firm rose to Rs 7,501.2 crore for the year ended March 31, from Rs 6,575.25 crore year-ago.

The board of directors has declared a dividend of Rs 6.3, on every share of face value of Rs 10 held, for the year 2007-08, the filing said.

Further, the register of members and share transfer books of the company would remain closed from July 8 to July 15 for the purpose of payment of dividend and the annual general meeting, it added.(PTI)

Suggestions sought to strengthen safety
norms in industries

NEW DELHI, Apr 28: Government has invited suggestions from both employers and employees to enforce better safety norms in the industrial sector.

"Employers and employees may come up with suggestions that can help us strengthen the safety system in all the industries and make the work environment safe", Union Labour and Employment Minister Oscar Fernandes said addressing a national seminar on industrial safety to mark the world Safety and Health at Work day here today.

Fernandes, who also released a poster and a logo to mark the event promoted by the International Labour Organisation (ILO), said his ministry had proposed to commemorate the the year 2008 as the year of ‘Industrial safety and health’.

Stating that the Factories Act 1948 completes 60 years of its existence this year, the Union Minister said during this period attempts were made to ensure the safety and health of the working population in the manufacturing sector amidst the changing industrial and socio-economic scenario.

"Government is committed to regulate all economic activities within the country with a view to ensure that every working employee is provided with safe and healthy working conditions. Therefore, everyone even the employee looking after the smallest work at any industry should come forward and suggest for safety," he said. (PTI)

Nucleus Software to invest Rs 30 crore in Jaipur

SEZ NEW DELHI, Apr 28: Software products company Nucleus Software today said it will invest Rs 30 crore in 17 acres of land in a notified SEZ in Jaipur for further expansion.

"We will invest Rs 20 to 30 crores in the facility for 1,000 people and the main area of focus in the SEZ will be development of products and catering to the needs of service clients," CMD Nucleus Software, Vishnu R Dusad told reporters here.

The company is also planning to increase its head count to 2,500 by the end of next year, added Mr Dusad.

Nucleus Software which provides software solutions to the banking and financial services industry, with its flagship product -FinnOne has also recommended a final dividend of 30 per cent that is Rs 3 per share of par value Rs 10. (UNI)